Central bank digital currencies need bigger incentive to succeed, researchers find

digital-landscape

For a central bank digital currency to be a success, there has to be a bigger incentive than convenience to adopt it, researchers say in a paper published by the International Monetary Fund.

In the paper, Tanai Khiaonarong and David Humphrey examine the level of cash use and demand for a CBDC across 11 countries: Australia, China, Denmark, Germany, India, Japan, Netherlands, Norway, Singapore, the UK and the US.

Demand for CBDC would be larger in countries with higher cash use, the researchers

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